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Posts Tagged ‘Lionsgate’

A Lion, Hobbits and Bond – oh my!

July 22nd, 2011 No comments

As summer heat scorches most of the U.S., (except, interestingly enough, Hollywood), perhaps it’s time to chill out and get caught up with stories we’ve blogged about in past months. Interestingly, in one way or another, all of today’s stories link to Metro Goldwyn Mayer. Sort of.

 

The Cat Came Back…

Proving a corporate survival rate second to none, MGM emerged from bankruptcy in late 2010 and was placed under the leadership of former Spyglass Entertainment honchos Roger Birnbaum and Gary Barber. Having successfully fended off corporate raider Carl Icahn’s attempt to take over the beleaguered studio via his one-third share in Lionsgate, as well as a semi-serious offer by Time Warner (and even some foreign tire-kicking),  MGM received debtholder approval and the bankruptcy court’s blessing to restructure its obligations, and has re-entered the movie business. Well – sort of.

As a matter of fact, MGM has a movie in the theaters right now – sort of. “Zookeeper” is a MGM film, but it is distributed by Sony under that studio’s Columbia label. MGM bought the script in a 2008 bidding war for $2 million against $3 million, and promptly set Adam Sandler’s production company, Happy Madison (HQ’d at Sony), onto the project, effectively reuniting most of their “Paul Blart: Mall Cop” production team to get “Zookeeper” made. Unfortunately, in the interim, MGM was hit with big money woes, and the film was included in a deal which gave Sony distribution rights to the next two James Bond films as well. The deal with Sony may just get the struggling studio back into regular production, but MGM’s possible future slate looks more like a ‘blast from the past,’ relying heavily on remakes of MGM properties like “Red Dawn,” “RoboCop,” “Mr. Mom” and “Poltergeist.” 

And that’s just the Halfling of it…

Another long-stalled, high-profile MGM project, “The Hobbit,” has finally begun production. Well – sort of. It’s a ‘good news, bad news’ kind of thing for MGM: MGM’s “The Hobbit,” long planned to be a pair of films directed (and co-written) by Guillermo del Toro and produced by ‘Lord of the Rings’ director Peter Jackson, ended up morphing into a giant pair of  Warner Brothers (corporate successor to New Line) 3-D movies, directed by Jackson after MGM’s money woes caused del Toro to move on (after 2 years of work) and MGM to unload its rights, retaining only broadcast TV rights. Peter Jackson has largely reunited his ‘Lord of the Rings’ principals; they support British actor Martin Freeman, who plays Bilbo Baggins. In early press, Jackson points out that these things rarely get easier: the shooting schedule for both ‘Hobbit’ movies is only 12 days less than all 3 of the ‘Lord of the Rings’ films, and the $500 million budget is 40% more than the three earlier films. The first of the two 3-D ‘Hobbit’ films, “The Hobbit: An Unexpected Journey,” is due in theaters in December, 2012. The second film, “The Hobbit: There and Back Again” is set for a year later in December, 2013.

Never say ‘Never Again’…

The other jewel in MGM’s crown (after the hard-won ‘Hobbit’ rights, which involved years of legal wrangling with Saul Zaentz) is James Bond. ‘James Bond 23,’ the as-yet-untitled next chapter in the spy series, was held up due to – what else? – MGM’s financial troubles. With the resolution of MGM’s debt situation, they are free to make the next James Bond movie. Well – sort of.

Due to a deal set up with MGM in 2004, Sony Pictures Entertainment and Sony Pictures Home Entertainment distributed all of MGM’s theatrical feature films and  home video, accordingly, including the rebooted Bond franchise’s highly-successful “Casino Royale” and “Quantum of Solace.” However, MGM exercised an option in 2006 which allowed it to transfer distribution of its product to Twentieth Century Fox Home Entertainment. This left the distribution of the next Bond movie up in the air when MGM ran out of money; now Sony has stepped in and agreed to distribute both ‘Bond 23’ and ‘Bond 24,’ in addition to co-financing both films. This solves several problems: Sony stays in the Bond business, and MGM has a partner well-versed in dealing with EON Productions, the ‘power behind the throne’ of the Bond franchise. Oscar winner Sam Mendes is set to direct, and Daniel Craig will return as James Bond. ‘James Bond 23’ has a release date of November 9, 2012.

It’s Too Darn Hot!

It is hot out there. Why not go into a nice air-conditioned movie theater? This weekend, “Captain America: The First Avenger” is the latest 3-D superhero to grace movie screens, and it should be interesting to see if he battles boy wizards as well as he does Nazis. It takes guts to go up against such tough foes… And if good versus evil isn’t your thing, check out “Friends With Benefits,” which should benefit producer Screen Gems via its clever (2-D, superhero-free) counter-programming… Sort of.

Worst Year? Numero Uno? Goin’ Bust?!

August 31st, 2010 No comments

  

Worst Movie Year Ever?

Last month in the Wall Street Journal, pundit and scribe Joe Queenan raised a lot of hackles in Hollywood when he wrote an article asking whether 2010 was “The Worst Movie Year Ever?” The piece got a lot of play, and Queenan’s alternately comedic and sarcastic tone is entertaining, even if it’s unfair to the film industry. He points out (accurately) that big-budget tentpole films like “Prince of Persia: The Sands of Time” and “Robin Hood” were critically panned and commercial flops, but goes on to suggest “Inception,” the summer’s biggest non-animated hit, should be used to burrow into film execs’ minds and get them to stop making dreck like “Dinner for Schmucks.”

What Queenan doesn’t take into account is that nobody sets out to make a bad movie. (OK, maybe “Showgirls,” but it’s only good because it’s so bad, at least from a story standpoint…) “Dinner for Schmucks,” which may turn out to be the year’s biggest turkey, was based on a very successful French comedy, and clearly had studio support throughout its long gestation. “Grown Ups” has made $160 million, and follows Adam Sandler’s tried & true formula of delivering movies squarely aimed at his fan base, which obviously doesn’t include fussbudget Queenan. And Queenan’s lack of opinion on “Inception” speaks volumes: he can snipe about the summer’s misses, of which there have been a few, but he fails to give credit where credit is due. “Inception” is the top non-animated film of the summer, a cerebral $270 million hit with audiences (and most critics); the top animated film, “Toy Story 3,” comes out of the redoubtable Pixar studio, and has made more than $400 million domestically in addition to garnering some of the best reviews of the “Toy Story” franchise.

It seems like every year some pundit declares the year’s movie offerings as ‘the worst ever.’ Does 2010 stack up? Well, let’s put it this way: box office is up. If that seems like good news, you might want to stop reading right now…

It’s Liar’s Poker Again…

This past weekend’s final box office grosses have come in. Initially, Sunday’s ‘preliminary’ tally reported Lionsgate’s “The Last Exorcism” as the winner over Sony’s “Takers,” both of which opened over the weekend. Lionsgate reported $21.3 million versus Sony’s $21 million, giving ‘Exorcism’ the vaunted #1 spot. But, as we have written in the past, this process offers a lot of ‘wiggle room’ for studios to fudge their results for effect. That’s apparently what happened, because when the smoke cleared and the final numbers came in, the order was reversed: “Takers” was #1 with $20.5 million against “The Last Exorcism”‘s $20.3 million opening.

Where are YOU going…?

It certainly can be taken as a good sign that the box office gross is tracking up 1% this year from last year’s record $10 billion total. On the other hand, the fact that there have been a number of lackluster 3-D films inflating overall box office with higher ticket prices has hidden an alarming 4% drop in movie attendance in 2010. Combined with the unsustainable models of “Avatar” and “Paranormal Activity,” which helped elevate 2009’s box office to its record, it seems clear that expectations in Hollywood are out-of-whack with results. It will be interesting to see how the rest of the year plays out, and whether Hollywood can reverse this troubling moviegoer slump. Will technology and economic forces conspire to make Hollywood follow the old ‘record business’ into freefall?

But, then again, have you seen the slate of films due in 2011? They’re awesome, as we say here in Tinseltown. Trust me

Liar, Liar…! ‘Dragon’ on Fire?

April 19th, 2010 No comments

 

 It was another squeaker at the domestic box office this weekend. And another extraordinary round of B.O. estimating, Liar’s Poker style…

According to “Daily Variety,” new release “Kick-Ass” won the Friday ‘frame’ of the weekend, with $7.5 million, while two other films, “Date Night” and weekend opener “Death at a Funeral” were in a virtual Friday tie, with $5.5 million each. It would suggest a tough battle between niche markets to take the weekend. BUT – there’s always the inevitable Hollywood third-act twist (… or IS THERE?)!

Gotta hand it to those distribution dudes… they really know how to wring the suspense out of a weekend. So, as the dragon-smoke clears, and those estimates are faxed in (or emailed in – who knows? With the occasional ‘accuracy’ of some of these numbers, maybe they’re sent by Ouija board…), a new box office champ is crowned – sort of. Last week’s ‘surprise’ repeat #1, “Clash of the Titans,” slipped to the number 5 slot, supplanted by ANOTHER 3-D film, “How to Train Your Dragon,” in its 3rd week of release. As a reminder, ‘Dragon’ opened in the  #1 slot, but quickly fell to #3 in its second week. Its buoyed finish may have something to do with the higher price of 3-D movie tickets – or a particularly bold ‘bluff’ in the Liar’s Poker game of weekend film gross estimating. 

Kick-Ass still

And here’s the rub… ‘Dragon’ beat out “Kick-Ass” to take the #1 weekend slot – but only by $200k. In ESTIMATED dollars. So, I think you know where this is headed… If, as happened last weekend, one studio (or more) got ‘generous’ with their estimated weekend take, the order of #1 and #2 would certainly change… And “Kick-Ass” would open at #1, which is undoubtedly what Lionsgate, its studio, wants. PLUS – and this is one of those ‘only in Hollywood’ scenarios, Lionsgate is mired in a nasty takeover bid by Carl ‘Destroyer of Worlds’ Icahn, and having a number one picture at the box office would be a big boost to the beleaguered mini-major.

As for the rest of the liars at this poker game, “Date Night” and “Death at a Funeral” finished at #3 and #4, with $17.3 and $17 million respectively, but with only $300k between them, it’s anyone’s guess who the ‘real’ #3 and #4 are. Unless they substantially underreported, “Clash of the Titans” should definately have a lock on fifth place, with $15.8 million.